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ILX Group plc (AiM: ILX), the AIM quoted provider of e-learning software and consulting services, announces its unaudited preliminary results for the year ended 31 March 2011. Corporate Highlights · Strong growth in International revenues, particularly Australia and Middle East · UK revenues remain robust with increased profitability · ILX reclassified as a software business · Octopus Capital for Enterprise increases holding to 20% · ILX remains global market leader in PRINCE2® · Board strengthened by the addition of Chris Allner and Eddie Kilkelly · Financial classroom training business (CTG) closed during the year

http://www.investegate.co.uk/Article.aspx?id=201106270700071140J

Deutsche raises target price on Berkeley Group Holdings from 1052p to 1244p.

Citigroup downgrades Inmarsat to hold from buy, target price cut from 820p to 600p.

Paul Walsh, Chief Executive of Diageo, commented: 'I am delighted that Diageo's application to increase its investment in Quanxing has been approved by the Chinese authorities. We look forward to working with our Chinese partners to further develop the ShuiJingFang brand both domestically and overseas. 'We are privileged to have the unique opportunity to participate at scale in super premium Chinese white spirits, one of the largest, fastest growing spirits segments in the world. I am appreciative of the vote of confidence Diageo has received from the Chinese authorities and the tremendous support we have had from our own government as we seek opportunities for growth in our business.' A spokesman for Diageo's Chinese business partner, Yingsheng, commented: 'I am very pleased that Diageo has received Chinese government approval for its increased investment in Quanxing. We look forward to working even more closely with our partners at Diageo to build a world-class Chinese 'bai jiu' business. I am sure that with Diageo's support, ShuiJingFang will become the world's leading 'bai jiu' brand in international markets. I am grateful for the strong support we have had from the Chinese central authorities and the Sichuan provincial government.' Gilbert Ghostine, President of Diageo Asia Pacific said: 'We are thrilled with the opportunity we have been given to increase our investment in ShuijingFang and to deepen our partnership with the Quanxing Group. I am confident that we have chosen the best possible partner in super-premium Chinese white spirits and look forward to working with them as we grow our position in this exciting category.'

Diageo gains regulatory approval for majority shareholding in Joint Venture Chinese White Spirits Company. Approval now sought to launch the Mandatory Tender Offer. Chinese regulators have approved Diageo's acquisition of an additional 4% stake (the "4% transfer") in Sichuan Chengdu Quanxing Group Company Ltd. ("Quanxing") from Chengdu Yingsheng Investment Holding Co., Ltd ("Yingsheng"). Steps are now being taken to complete the 4% transfer for a consideration of about RMB 140 million (£13 million). Once completed, this 4% transfer will bring Diageo's holding in Quanxing to 53%. Quanxing is currently the largest shareholder of Sichuan Shuijingfang Co., Ltd. ("ShuiJingFang") which is listed on the Shanghai Stock Exchange. Diageo is now seeking approval from the China Securities Regulatory Commission ("CSRC") to launch the required mandatory tender offer ("MTO") for the outstanding shares of ShuiJingFang, in which Quanxing holds a 39.7% stake. Diageo expects to receive the CSRC approval in due course. Once the CSRC approval has been received, Diageo will immediately launch the MTO for the outstanding shares of ShuiJingFang in accordance with Chinese takeover regulations. The MTO price of RMB 21.45 per share has been set at the minimum price permitted by Chinese takeover regulations. Were all other ShuiJingFang shareholders to accept the MTO, the maximum amount payable would be approximately RMB 6.3 billion (£609 million). As required by Chinese law, 20% of the maximum amount payable has already been deposited with the China Securities Depository Clearing Corporation. Diageo will fund the MTO through its diversified financing sources and strong global cash generation. Further announcements at the launch of the MTO and of the results of the MTO will be made in due course. Separately, subject to the right opportunities becoming available, Diageo has agreed to facilitate financing for Quanxing of up to approximately RMB 2 billion (£193 million) for the development of its main business.

http://www.investegate.co.uk/Article.aspx?id=201106271407541811J

35 - 36 Another aim bloodbath

Madagascar Oil resumes trading, reports wider FY net loss Date: Monday 27 Jun 2011 LONDON (ShareCast) - Shares of Madagascar Oil, which were suspended since last December, slumped 48% on its first day of trading following its resolution of the dispute on its Tsimiroro Block with the Government of Madagascar. Madagascar Oil said the state regulatory authority has acknowledged that the Tsimiroro’s product sharing contract is valid and its validity has never been in question. The regulator has approved the 2011-2012 work programme and budget for Tsimiroro. On 17 December, Madagascar Oil’s shares were halted at 74p when the Madagascar authorities said that they wanted to buy all of the company’s licences, excluding Bemolanga. In addition to the licenses, an audit of the Tsimiroro Block was being conducted by the local regulator. Also, the company reported a full year net loss of $11.6m, compared to the net loss of $3.9m, last year. Capital expenditure amounted to $12.4m, while the company said it has $59m of unrestricted cash on hand in June 2011 with no debt.

CONT The Company has changed much over the last few years but is well positioned to capitalise on its exploration success. With the shares now listed on the TSX as well as AIM we have extended our access and flexibility in the capital markets. We believe that introducing and increasing awareness amongst North American investors will have a positive impact on the Company's investor base which sees the value upside that Serabi provides to shareholders. This value is derived from not just the existing resources and exploration potential but also the physical location of its tenements, their close proximity to infrastructure and workforce, the existing plant and facilities already established at Palito and most importantly the requisite permits already being in place. With continued exploration success, we would hope that this value upside will in time manifest itself in the share price. With this transition and the appointment of three new non-executive directors at the end of March 2011, Mr. Graham Roberts, who until then had been Chairman of Serabi since its inception in 2004, has elected to step down from the Board. I would like to thank Graham for all his dedication and efforts over the past seven years and I know that he will continue to be an enthusiastic supporter of Serabi in the future. Mr. Sean Harvey was appointed as Chairman on 30 March 2011. The next eighteen months promises to be an interesting time for the Company and I hope that our work will be rewarded with some good exploration results which will in turn allow us to start looking at the re-establishment of mining operations."

CONT In addition to increasing the mineral resource at Palito, we are also trying to establish a pipeline of exploration targets within our tenements. Whilst these may be slightly further afield from the Palito Mine, I would like to stress that the areas under investigation are all within 25km of Palito; and therefore should exploration success follow, such targets could feasibly be part of a larger Palito production, using the production facilities and valid mining licenses that are in place. The cornerstone of our exploration success over the past 2 years at Palito has been an airborne geophysical survey flown in 2008 over the immediate 6,000 Ha enveloping the Palito deposit. The survey included aeromagnetics and electromagnetics (VTEM). Based on this success, we took the opportunity of flying a further airborne geophysical survey earlier this year extending the surveyed area and have identified a further series of targets. We will want to follow these up with further ground based exploration work and in the fullness of time the best of these would be subjected to drill testing. We have also integrated and re-processed the magnetic data from this latest airborne geophysical survey and the similar 2008 survey and the results have had a significant impact on our structural interpretation of the Jardim do Ouro project area. As a result, we now believe the structural zone hosting the main Palito deposit could well be substantially longer than originally interpreted, possibly extending as far to the south-east as the Currutela target currently being drilled. The re-interpretation also suggests a number of sub-parallel trending lineaments also exist. These also exhibit substantially greater strike lengths than first thought. We are keen to test the theory that Palito and Currutela are in fact two parts of a continuous structure which could extend over some three kilometers and are looking to drill this potential extension zone.

Serabi Mining plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold exploration Company, advises that at 2.00pm today (UK time), it will be holding its Annual General Meeting. The following is the text of the statement that will be made by Michael Hodgson, the Chief Executive of the Company: "This time last year the investment made by Eldorado Gold Corporation was somewhat overshadowed by the suspension notice served on our Brazilian subsidiary for alleged environmental infringements. This notice occurred as we were about to embark on the initial drilling programme. Whilst the matter was successfully resolved, with the suspension lifted and the fine removed, it did create delays in the commencement of the programme by approximately six months. Whilst this was frustrating for all stakeholders, the programme is now well underway and I, along with my fellow directors, am very pleased with the results to date. I think it is fair to say that the results have so far, exceeded our expectations. This has been a very encouraging start to our overall aim of discovering additional gold deposits in the immediate Palito Mine vicinity, with the initial goal of increasing the Company's existing total mineral resource inventory to 1.5 million ounces. The close proximity of the targets under investigation means that any such mineral resource inventory could easily be incorporated into the existing Palito production infrastructure. Our intention on completion of this first phase exploration programme, funding dependent, will be to move straight to Phase 2 which will involve infill and extension drilling on the best discoveries with the objective of establishing a revised resource estimate. With drill rigs in short supply I do not want to be forced to release our current rigs and risk further delays and any cessation of drilling.

http://www.investegate.co.uk/Article.aspx?id=20110627130000H6238

HSBC neutral on Burberry Group, target raised from 1250p to 1450p.

Nomura recommends buy Stagecoach Group, target price 275p.

UBM flogs music and entertainment titles Date: Monday 27 Jun 2011 LONDON (ShareCast) - UBM, the FTSE 250 business events organiser and publisher has signed an agreement to sell its UK entertainment and technology product portfolio to Intent Media Ltd for £2.4m. The portfolio is made up of Pro Sound News Europe, TVB Europe, Installation Europe and Music Week print magazine titles and related websites and events. Adrian Barrick, chief executive officer of UBM Connect said: "I am pleased we will pass stewardship of these well-established entertainment and technology titles to Intent Media, which focuses on serving specialist entertainment, technology and leisure markets.

SABMiller adds M&A executive to Group Executive Committee Date: Monday 27 Jun 2011 LONDON (ShareCast) - Brewing giant SABMiller said Domenic De Lorenzo, who is responsible for mergers and acquisitions, corporate strategy and development, will join its Group Executive Committee, effective 1 July. This announcement comes a week after the Australian brewer Foster’s Group rejected SABMiller’s A$4.90 per share proposal. On 21 June, Foster's Group board rejected SABMiller's merger deal saying that the offer significantly undervalues the company. SABMiller, in its statement, highlighted that De Lorenzo was part of many of its key transactions, including Pilsner Urquell, Miller Brewing Company, Peroni, Bavaria and Grolsch, and the formation of the MillerCoors joint venture. At 11.10am, shares of the company were trading up 0.9% at 2,114p in London.

Commenting on the outlook, Ben Stocks, Chief Executive, said: "Porvair's strategic direction and operating objectives, which focus on new product growth and geographic expansion in key markets, have been consistent for several years, and their benefits are discernable in these results. The Board expects these benefits to continue to show through in the second half of 2011 and beyond. In the Metals Filtration division margins are improving and will continue to do so as manufacturing is streamlined. In Microfiltration, the strength of the current order book and pipeline of potential opportunities is encouraging. As a result, management's expectations for the year have been increased."

Porvair plc ("Porvair" or "the Group"), the specialist filtration and environmental technology group, today announces its half yearly results for the six months ended 31 May 2011. Highlights · Revenues grew by 5% (7% in constant currency) to £31.1m (2010: £29.7m). · Profit before tax increased by 27% to £1.6m (2010: £1.3m). · Earnings per share up 29% to 2.7 pence (2010: 2.1 pence). · Management's expectations for the full year have been increased. · Net debt fell substantially by £5.4m to £8.9m over the last 12 months (2010: £14.3m). · Metals Filtration: o Further take up of patented new products leading to improved margins; o Streamlining manufacturing processes underway; o First profitable period for Chinese plant. · Microfiltration: o Aerospace revenues up 17% with promising schedules for the second half; o Record orders in the second quarter, including several large bids won in gasification and nuclear; o Seal Analytical revenues lower by 9% compared with prior period but expected to perform well over the full year. · Interim dividend of 1.0 pence (2010: 1.0 pence) declared.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4317511